Daily Markets Briefing: STI up 0.1 %

A pullback may happen today.

According to OCBC, the further retreat on Wall Street overnight could cue the local bourse to a poor start this morning.

Here's more from OCBC:

Despite a mild 0.1% gain yesterday, the STI again failed to conquer the 3310 support-turned-resistance.

And with today’s tone likely to remain more downside biased, we could see the index continue to inch lower in the direction of the 3270 immediate support.

Below that, we still peg the subsequent support at the 3230 key trough. On the upside, we still see the next hurdle at the 3350 various peaks.

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